FIRM OVERVIEW

The Firm was founded by Sherrod Banks on February 1, 1994. Prior to forming the Firm, Mr. Banks practiced law for five years with Durham, North Carolina’s oldest and largest law firm. The Firm is located at Winchester Place in the Research Triangle Park, North Carolina, just five miles from the Raleigh-Durham International Airport.

THE FIRM'S PRACTICE

The Banks Law Firm has established most of the practice areas of a general civil law practice. The Firm represents clients in the areas of administrative law, affordable housing and community economic development law, bankruptcy, business and corporate law, church law, civil litigation, collections, environmental law, government contracts and procurement, health care, labor and employment law, land use and zoning, legislative representation, nonprofit corporations, public finance, and real estate law. Teamwork between the attorneys and staff is the key to providing the best possible representation and service to clients in each of the Firm’s practice areas.

The Firm’s primary practice concentration is affordable housing and community economic development (“AHCED”) law. Affordable housing and community economic development law is a multi-disciplinary legal specialty. It combines the skills of an attorney experienced in municipal law, business, tax, real estate, and nonprofit corporation law in addressing the following topics: public housing law, municipal lending, multifamily housing bonds, the HOME program, community development block grants, the affordable housing program and the community investment program of the Federal Home Loan Bank, community housing development organizations, enterprise zones and empowerment communities, low income housing tax credits, substantial rehabilitation tax credits, historic preservation tax credits, real estate financing, residential and commercial real estate, zoning and redevelopment plans, non-profit corporations, for profit corporations, general partnerships, limited partnerships, limited liability companies, syndications, the Community Reinvestment Act, and community development banks.

The Firm is well versed with all general components of the mixed-finance process including federal and state procurement; low-income housing tax credits (including compliance and audit issues); rehabilitation tax credits; historic preservation tax credits; tax-exempt bond financing; mixed income/mixed finance development under 24 C.F.R. 941 Subpart F; comprehensive neighborhood and economic development; Section 3 and MBE/WBE regulations and guidelines; tenant based and project based Section 8 assistance; the legal issues associated with the relocation of residents and the provision of supportive services; leveraging creative financing; home ownership programs and available financing tools; and federal regulations governing the development, operation and maintenance of public housing and Section 8 units.

The Firm is also well versed in the specifics of HOPE VI, including regulatory and operating agreements; HOPE VI grant agreements; revitalization plans; development agreements; mixed-finance proposals, evidentiaries, and closings.